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At a Glance - Cross-border investment in Europe - February 2019

At a Glance - Cross-border investment in Europe - February 2019

At a Glance - Cross-border investment in Europe - February 2019

Fallback in Asian investment as Americans return to the market

The European commercial property investment market reached €265bn in 2018, a result in line with 2017 all-time high. 2017 was the second best result for cross-border investment after 2007. In 2018, foreign investment reached €124bn, which represents a decline (-9%). This result was balanced by the rise in domestic investment (+7%). Cross-border investment represented 47% of total investment in 2018.

Despite a slight decrease (-4%) compared to 2017, European cross-border investors are the most represented (41%) in 2018. They were present in a number of retail assets such as the Kaufhof/Karstadt portfolio in Germany bought by SIGNA Prime Selection or the Champs-Elysées Apple store in Paris acquired by Hines on behalf of German BVK.

After a peak of investment over the €40bn bar in 2015, American investment in European real estate plummeted in 2016. Since then, Americans have come back slowly but surely, and by 2018, they progressed again (+7%) with €28bn invested. They were major players in Germany and France. Among the largest deals are Capital 8, an office building in Paris CBD purchased by Invesco for €846m and the Zalando campus in Berlin acquired by Hines for €240m.

Asia & Pacific investors went back to third place with €21bn invested in 2018, which represents a 19% decline. The level of investment from this part of the World remains very high, 19% over the 5-year average. They mainly targeted United Kingdom, Germany and France, with the Battersea Power station redevelopment scheme acquired by Malaysian Permodalan Nasional Berhad for €1.8bn or the office building Trianon in Frankfurt purchased by South Korean Hana Financial Investment.

Middle Eastern investors spent almost €6bn (-27%) in European commercial real estate, which represents a share of 5%.

European leader in the commercial real estate market

We unravel the various market cycles and offer the most relevant analyses to respond to your needs. Based on more than 50 years of real estate expertise, we are present in 36 countries, mainly in Europe. Our daily mission is to anticipate economic, social and environmental changes to integrate the real estate of today into the city of the tomorrow.